FDI limit in insurance may be raised

Finance Minister Mr. P. Chidambaram has hinted that the FDI limit in the insurance sector will be raised from 26% to 49%, and that it would be passed by Parliament in this government's term itself.

Apnainsurance.com Research Bureau

12 Jul 2008

Finance
Minister Mr. P. Chidambaram has hinted that the FDI limit in the insurance
sector will be raised from 26% to 49%, and that it would be passed by
Parliament in this government's term itself.

The Parliamentary
Standing Committee, which had objections to one or two clauses, has already
passed the bill. The Left parties, which have been opposing government's
proposal, have already withdrawn their support to the UPA government.

Insurers
now look forward to July 22 - expecting the government to raise the limit once
they pass the trust vote in the Lower House.

Mr.
Pranab Mukherjee, External Affairs Minister, heads the Group of Ministers
looking at this issue. It had earlier failed to reach any sort of consensus
because of the Left's opposition.

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